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At some level, why does it matter? They didn't make drivers buy useless medallions or anything like that. Companies fail all the time, some of them fail early,
by diebeforei485 5y ago
At some level, why does it matter? They didn't make drivers buy useless medallions or anything like that. Companies fail all the time, some of them fail early, others may fail at a late stage.
- ppeetteerr 5y agoMedallions had value in that they were seemingly protected by the municipality that issued it. Prior to Uber, a medallion was an asset that appreciated in value.
- diebeforei485 5y agoThey didn't have any intrinsic value, plus municipalities and some large institutional investors were the only people you could sell a medallion to (other than taxi drivers/owners). On the other hand, Uber drivers can find any buyer for their used cars (which have, in fact, gone up in value since the pandemic began).